The thief behind the massive Coinbase exploit earlier this month has begun swapping their stolen crypto

The thief behind the massive Coinbase exploit earlier this month has begun swapping their stolen crypto.

A thief who drained massive amounts of crypto from Coinbase earlier this month has begun swapping their stolen loot, according to pseudonymous on-chain investigators.

On Wednesday, ZachXBT noted on Telegram that the exploiter had swapped 42.5+ million in Bitcoin (BTC) for Ethereum (ETH) via the decentralized liquidity protocol THORChain (RUNE).

The thief also trolled him with an on-chain message that said "L bozo" and linked to a YouTube video of former NBA star James Worthy smoking a cigar.

PeckShield adds that a different address that is "highly relevant to the threat actor" received 9,081 ETH from THORChain, then swapped that ETH for 23 million Dai (DAI).

Later on Wednesday, the relevant address received another 8,569 ETH (worth approximately $22.4 million) from THORChain. The funds were then swapped for 22 million Dai, according to the blockchain security firm.

Earlier this month, Coinbase disclosed that criminals bribed a small group of overseas customer support agents to copy the data of less than 1% of the firm’s monthly transacting users. A recent filing with the Maine Attorney General’s Office indicates the breach impacted 69,461 people.

The exchange notes that hacked information includes names, addresses, phone numbers, email addresses, masked social security numbers (the last 4 digits only), masked bank-account numbers, some bank account identifiers, government-ID images, account data and limited corporate data.

Coinbase learned about the hack after receiving an email earlier this month demanding a $20 million BTC payoff in exchange for not releasing the illegally obtained info. The company refused to give in to the hackers’ demand and estimates it will pay $180 million to $400 million in remediation costs and voluntary customer reimbursements.